London, May 19, 2026, 13:56 BST
- SSE climbed 0.3% to 2,353p in late London trade, but shares are still trading about 15% under the April 13 peak.
- FTSE 100 climbed in early moves as softer UK jobs numbers eased concern over a possible Bank of England rate hike soon.
- SSE is set to report preliminary results for the year ended March 31 on May 28, marking its next hard catalyst.
SSE gained on Tuesday, though the stock didn’t keep pace with London’s strength, as traders looked ahead to the company’s full-year numbers due next week. Shares were up 8p, or 0.34%, at 2,353p at 1340 BST, according to delayed market data. GBX shows London prices in pence; 2,353p equals £23.53.
SSE goes into May 28 results with the balance sheet still a big focus. The company faces pressure to pay for a bigger regulated network, while it tries to keep investors steady on debt levels, dividends and renewables output hit by the weather.
London Stock Exchange traded normal hours Tuesday, open from 0800 to 1630 BST. The next market holiday is set for May 25. So, Tuesday’s price move was trading in an active session, not skewed by a holiday.
FTSE 100 gains as UK jobs data hits rate hike bets. UK stocks pushed higher, with Reuters showing the FTSE 100 up 0.61% at 1113 GMT. April payrolls dropped by 100,000 while unemployment climbed to 5.0%, slowing rate hike fears at the Bank of England.
“All of this questions the need for Bank of England rate hikes,” ING developed markets economist James Smith said, commenting on the labour data. Higher borrowing costs hit utilities like SSE, which face big upfront costs for their grid and renewable projects. Reuters
SSE in April put its adjusted earnings per share for the year to March 31 at between 147p and 152p, excluding some one-offs. The company also signaled roughly £3.5 billion in capital investment, with adjusted net debt and hybrids a little over £10 billion. Renewable generation output was put at about 14.5 terawatt hours.
SSE shares are still trading far from their highs. Investors Chronicle data put SSE around 14.98% below its 52-week top of 2,767.5p from April 13. The group’s market cap was about £28.43 billion.
Peers moved higher. National Grid, seen as the closer regulated networks peer, was up 1.87% at 1,254.5p. Centrica, which owns British Gas and is more tied to retail energy and gas, added 0.79% to 198.5p.
SSE first announced its £33 billion five-year investment plan in November, pairing it with a £2 billion equity raise for grid and renewables projects. Chief Executive Martin Pibworth at the time described it as a “once-in-a-generation opportunity” to upgrade essential infrastructure. Reuters
Jefferies analyst Ahmed Farman said at the time the plan gave “clarity on the balance sheet and the company’s growth outlook”. Investors will look for that same clarity again next week. Debt, asset sales and cash flow from the regulated networks are key areas. Reuters
Pressure is building on household energy bills too. Analysts at Cornwall Insight told Reuters that Britain’s domestic energy price cap is set to go up around 13% in July. The cap, set by the regulator, limits standard household gas and electricity tariffs. Higher bills tend to draw political heat for networks and suppliers, even where regulated investment aims to solve bottlenecks.
There’s still risk here. Wholesale energy prices are open to moves from the Middle East conflict, with UK inflation numbers due this week and weak weather still a problem for renewables. SSE said back in April it hasn’t seen any direct impact yet from the Middle East, but Cornwall Insight said the October price cap is tied to developments in the region.
SSE is still trading with backing from UK interest rates but isn’t moving out of line with its peers. Investors are waiting for May 28, when the company is set to deliver its full-year results and more detail on its grid strategy.
